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An economy with better technology is likely to have lower levels of human capital use more labor than capital achieve higher productivity

An economy with better technology is likely to: A) have lower levels of human capital. B) use more labor than capital. C) achieve higher productivity. D) have less capital stock. 184) An aggregate production function: A) shows the relationship between a country's GDP and its factors of production. B) shows various quantities of two goods that can be produced at a given cost. C) shows various combinations of labor and capital that can be used to produce a particular good. D) shows the relationship between a country's output and its price level. 185) Total efficiency units of labor in an economy increases if ________. A) the amount of capital available to each worker diminishes B) the average number of hours worked by each worker decreases C) each worker earns a lower wage D) each worker becomes more productive 186) The total number of workers in two different countries are equal. However, each worker in Country A is three times more productive than a worker in Country B. Which of the following is true in this case? A) The capital stock in Country B is three times more than the capital stock in Country A. B) The total efficiency units of labor in Country A is one-third of the total efficiency units of labor in Country B. C) The total efficiency units of labor in Country B is six times more than the total efficiency units of labor in Country B. D) The total efficiency units of labor in Country A is three times more than the total efficiency units of labor in Country B.

May 01 2020 View more View Less

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